MOSCOW, Oct 12 (Reuters) - Russian private healthcare provider MD Medical Group's London listing got off to a smooth start, with its global depositary receipts trading at a 3 percent premium to their issue price on the first morning.

MD Medical Group said on Friday it would raise $311 million from its initial public offering at $12 per GDR, assuming an over-allotment option was sold.

The deal came weeks after Russia raised 159 billion roubles ($5.1 billion) selling a 7.6 percent stake in Sberbank , the country's biggest lender, in a sale seen opening the door for other domestic names to tap positive investor sentiment towards emerging markets.

MD Medical Group said its market capitalisation will be around $900 million, with a free float of about 35 percent.

Its GDRs were trading at $12.35 at 0855 GMT.

The offering included $150 million of new GDRs to fund expansion of the company's clinic and hospital network, as well as existing shares being sold by its main shareholder, MD Medical Holding Ltd.

MDMG has nine healthcare facilities, including a hospital and eight outpatient clinics in Moscow, Perm, St. Petersburg and Ufa.

Russian firms have been jostling to take advantage of a rally in European stock markets.

MegaFon , the country's second biggest mobile operator, was expected to raise up to $2 billion in an upcoming IPO in Moscow and London, while lender Promsvyazbank was expected to raise around $400 million through an IPO in Moscow and London.